Pilots are said to be unhappy with the proposals because they feel they would not be getting sufficient return recognition, given their equity stake in the company
Surely the solution is for the pilots to show even more faith, and buy even more shares? I'm sure somebody will lend them the money if they need it, in return for a seat on the Board perhaps (one Mr B Ahern can advise on how to structure such a transaction). Then, having bought enough shares, the pilots can sack the Board and appoint themselves as Directors. Problem solved. I don't think peripheral matters such as excess costs and inadequate revenues should be allowed to obscure what needs doing here.